Editor,
This is something you see with every major corporation in the world. The board of directors appoints a CEO to maximize profits and maintain the company’s values and brand. Sometimes a company goes through a growth phase and uses debt to expand through mergers and acquisitions. When it comes time to shore up their balance sheet and strengthen their credit rating through sound financial oversight, the board appoints a new CEO. When I look at these scenarios in the private sector I can’t help think of our beloved city of Carmel.
For the past 20 years the city of Carmel has been run by a developer. No amount of money has been too much to accomplish his vision. 95 million taxpayer dollars for the Palladium, 106 million taxpayer dollars for Keystone Parkway, millions more in taxpayer dollars spent for roundabouts, statues, etc. All this has made Carmel a very unique place to live. Now the bills are coming due and the developer does not know how to quit spending. We are at a point where we either take a different path or our company will no longer be solvent. If Carmel becomes insolvent, taxes will need to be raised. The company known as the City of Carmel and its board of directors consisting of Carmel voters need to take action. We need to go from a developer to a financial leader with sound money management experience.
It is time for Carmel to reduce spending and shore up our finances. It is time to effectively manage our cash flow, so we can keep taxes low and put our city on a sound sustainable fiscal path. Carmel needs to change course for the long term fiscal health and future of our city. It is time for Carmel to hire a financial leader, time for Carmel to hire Rick Sharp.
Steve Brooks
46033